Leading hardware crypto wallet manufacturer and developer Ledger sold more than 1 million hardware wallets in 2017, recording a profit of $29 million.

In an interview with Forbes, Ledger president Pascal Gauthier stated that the lack of secure platforms which users can utilize to sign transactions on the immutable public blockchain led the demand for Ledger and hardware wallets in general, to rise.

“Blockchain itself is secure, but signing on the blockchain is a flaw. If you lose the [private key], there’s no bank looking after your assets or any way to recover them,” Gauthier told Forbes.

Eyeing Another Multi-Million Dollar Funding RoundIn early 2018, Ledger raised $75 million led by billionaire early stage technology investor Tim Draper and Draper Venture Network funds. The Series B funding round of Ledger was a significant boost from its previous Series A funding round that closed a $7 million investment.

In an interview with Forbes, Ledger president Pascal Gauthier stated that the lack of secure platforms which users can utilize to sign transactions on the immutable public blockchain led the demand for Ledger and hardware wallets in general, to rise.

“Blockchain itself is secure, but signing on the blockchain is a flaw. If you lose the [private key], there’s no bank looking after your assets or any way to recover them,” Gauthier told Forbes.

Eyeing Another Multi-Million Dollar Funding RoundIn early 2018, Ledger raised $75 million led by billionaire early stage technology investor Tim Draper and Draper Venture Network funds. The Series B funding round of Ledger was a significant boost from its previous Series A funding round that closed a $7 million investment.